UNCOVERED LOSSES

Because of the greatly increased incidence of construction defect lawsuits in recent years, most contractor liability policies contain numerous exclusions for types of work and types of damages frequently subject to these claims.  Because of the inherent risk of uncovered losses for construction claims, you should consult your attorney about structuring your business so as to best protect your personal and business assets in the event of an uncovered loss.  Failure to take such steps can leave your business and personal assets which have taken a lifetime to accumulate, exposed to claims by customers, contractors, and their insurance carriers.